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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #59,401
  • Mar 28, 2010 9:05am Mar 28, 2010 9:05am
Lovejoy80, you commented on this pair last week. I see the great PPZ on the weekly and the daily with divergence.

Interestingly, there is a BUOB (not great looking) on the weekly but right into the 150 and 365 MA's.

Alternatively there is a two day pin bar on the daily, that I certainly favour. Is it good enough to take? I am concentrating on really solid PPZ's to turn this game around.

Cheers

Jonners67
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  • #59,402
  • Mar 28, 2010 9:07am Mar 28, 2010 9:07am
hi guys, im newbie, hope anyone can give any suggestion on this, this is my set up for the new coming week, gonna go long, waiting for the new candle for a confirmation.

as u guys can see the price has thrust the 38 and 50 fib.
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  • #59,403
  • Mar 28, 2010 9:22am Mar 28, 2010 9:22am
Quoting bertie123
Hi Guys

Just wanted to ask if anyone is stalking any trades on the dailiesweeklies for the week ahead...
Hey bertie... I'm considering these pin bars on the weeklies... FTA highlighted just above.

EUR/AUD is not the biggest pin, so I don't expect it to reverse the down trend. That first area does look inviting.

GOLD is a nice looking pin, but it's in consolidation.

That's what my weekly prospects look like. Anyone looking at these?

-- Danny
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  • #59,404
  • Mar 28, 2010 9:44am Mar 28, 2010 9:44am
Quoting Jonners67
Lovejoy80, you commented on this pair last week. I see the great PPZ on the weekly and the daily with divergence.

Interestingly, there is a BUOB (not great looking) on the weekly but right into the 150 and 365 MA's.

Alternatively there is a two day pin bar on the daily, that I certainly favour. Is it good enough to take? I am concentrating on really solid PPZ's to turn this game around.

Cheers

Jonners67
Indeed I did. I actually took a trade long on teh break up to near 91.00 and then reversed for a short. I've attached the weekly, daily and 4 H chart.

As you there is BUOB on the weekly - I wish this was a BEOB as that would be a good short opportunity but a BUOB at a swing high is a potential continuation trade. However the fact that the close is not near the high and more importantly not above the PPZ makes this a probable no trade for me.

I dont trade 2 day pin abrs - just feel that if you cant view on a time frame that most people watch i.e. daily weekly 4H etc then its overcomplicating things and making things fit to what you want to see etc. so maybe someone else can comment on this.

I will be watching the 4H on this pair though, see how it rejected off the 4HR PPZ zone on Friday thus the bulls haven't given up on this yet and the bears have not gained control...I will be watching how (if it happens) price approaches the PPZ area again...also be looking at price action etc on crude oil as there is a decent correlation.
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  • #59,405
  • Mar 28, 2010 9:51am Mar 28, 2010 9:51am
Quoting bluetrader
Hey bertie... I'm considering these pin bars on the weeklies... FTA highlighted just above.

EUR/AUD is not the biggest pin, so I don't expect it to reverse the down trend. That first area does look inviting.

GOLD is a nice looking pin, but it's in consolidation.

That's what my weekly prospects look like. Anyone looking at these?

-- Danny
AUD / CAD - I4B in a triangle consoitation area - could give us a head start on the likely breakout
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  • #59,406
  • Mar 28, 2010 10:09am Mar 28, 2010 10:09am
Quoting lovejoy80
Indeed I did. I actually took a trade long on teh break up to near 91.00 and then reversed for a short. I've attached the weekly, daily and 4 H chart.

As you there is BUOB on the weekly - I wish this was a BEOB as that would be a good short opportunity but a BUOB at a swing high is a potential continuation trade. However the fact that the close is not near the high and more importantly not above the PPZ makes this a probable no trade for me.

I dont trade 2 day pin abrs...

ThoughnI'd follow up with a continuation BUOB that I think looks more like ones I'd want to trade...look how closed near its high and well above the previous PPZ which was also a BRN...
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  • #59,407
  • Mar 28, 2010 11:06am Mar 28, 2010 11:06am
Maybe i´m wrong, but isn´t this a inside bar on the daily chart?
The 90.50 is a very strong resistance, the only point is, i dont like the weekly candle. If it breaks down the first profit point for me would be 23.6fib retracement. What do you guys think?
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  • #59,408
  • Mar 28, 2010 11:17am Mar 28, 2010 11:17am
Quoting Quan-Chi-Lin
Maybe i´m wrong, but isn´t this a inside bar on the daily chart?
The 90.50 is a very strong resistance, the only point is, i dont like the weekly candle. If it breaks down the first profit point for me would be 23.6fib retracement. What do you guys think?
I'm not fond of it closing above 90.0.

I also see JPY weakness in general so I'm doubtful about this setup.
  • #59,409
  • Edited 12:20pm Mar 28, 2010 12:07pm | Edited 12:20pm
Quoting Quan-Chi-Lin
Maybe i´m wrong, but isn´t this a inside bar on the daily chart? ...
What do you guys think?
What's up Quan-Chi-Lin.

Agree that this is an inside bar and going into strong resistance. My next concern would be... where is it going?

You have that 89.80 highlighted. I agree with that being your first area of traffic. Question is, where is the room?

Also... my lean is toward a break north. The 90 zone has been tested a few times... and we have been making successive higher highs and higher lows as we approached 90 (rising wedge). If it breaks south, I do see it getting to 88.80... but it's just not worth the risk for me.

See chart below.

Just my view.

-- Danny
Attached Image
  • #59,410
  • Mar 28, 2010 12:57pm Mar 28, 2010 12:57pm
Quoting bluetrader
What's up Quan-Chi-Lin.

Agree that this is an inside bar and going into strong resistance. My next concern would be... where is it going?

You have that 89.80 highlighted. I agree with that being your first area of traffic. Question is, where is the room?

Also... my lean is toward a break north. The 90 zone has been tested a few times... and we have been making successive higher highs and higher lows as we approached 90 (rising wedge). If it breaks south, I do see it getting to 88.80... but it's just not worth the risk for me.

See chart below.

Just...
It looks like a small two-day pin bar! I tried to get this on a 2day chart for you guys but the indicator doesn't seem to want to cooperate with me . anyway, wait for the break regardless.
Many choose unhappiness over uncertainty.
  • #59,411
  • Mar 28, 2010 1:56pm Mar 28, 2010 1:56pm
i have a question. does anybody know why i dont have an oil chart on FXPro ?? i had it before but then it disappeard first i found it under the name CLGO then CLHO but now i cant find it!
  • #59,412
  • Mar 28, 2010 2:14pm Mar 28, 2010 2:14pm
Quoting ppfx
i have a question. does anybody know why i dont have an oil chart on FXPro ?? i had it before but then it disappeard first i found it under the name CLGO then CLHO but now i cant find it!
That happened to me too...had to re-download MT4 again. My guess would be that as they are futures it ran past its expiry date - my oil chart on FxPro is CLKO - May expiry
  • #59,413
  • Mar 28, 2010 2:16pm Mar 28, 2010 2:16pm
Quoting lovejoy80
That happened to me too...had to re-download MT4 again. My guess would be that as they are futures it ran past its expiry date - my oil chart on FxPro is CLKO - May expiry
so that's what caused this...... I had the same issues haha
Many choose unhappiness over uncertainty.
  • #59,414
  • Mar 28, 2010 2:20pm Mar 28, 2010 2:20pm
Quoting ppfx
i have a question. does anybody know why i dont have an oil chart on FXPro ?? i had it before but then it disappeard first i found it under the name CLGO then CLHO but now i cant find it!
Hey pp

Right click in the market watch box and then click SHOW ALL. This will put them all up for ya

Mike
  • #59,415
  • Mar 28, 2010 2:29pm Mar 28, 2010 2:29pm
Quoting ppfx
i have a question. does anybody know why i dont have an oil chart on FXPro ?? i had it before but then it disappeard first i found it under the name CLGO then CLHO but now i cant find it!
As the expirations go by, contracts mature and close. New ones appear, but MT4 doesn't show them when they do. You have to make them 'appear' by right-clicking in the Market Watch and then Show All.

The new contract is CLK0, where K stands for May expiration.
  • #59,416
  • Mar 28, 2010 2:34pm Mar 28, 2010 2:34pm
thanks to all of you guys i found it now lets go trade some oil
  • #59,417
  • Mar 28, 2010 3:01pm Mar 28, 2010 3:01pm
Don't know if anyone has noticed but on NZD / USD we currently have an inside bar showing on the monthly, weekly and daily charts.

I wonder if a break on the daily will have a lasting affect on the weekly and monthly. Wouldn't that be nice? :-D

  • #59,418
  • Mar 28, 2010 3:19pm Mar 28, 2010 3:19pm
Quoting Mp1983
Don't know if anyone has noticed but on NZD / USD we currently have an inside bar showing on the monthly, weekly and daily charts.

I wonder if a break on the daily will have a lasting affect on the weekly and monthly. Wouldn't that be nice? :-D

No IB on the monthly, and it's a TBL (two bar low) on the daily. And the location is just plain wrong.

A break down, through the BRN and 150 daily EMA would mean a little bit, but the traffic to the left is a real deal killer. Topped with the higher highs/lows that the pair is making, I would say pass.

An upside break would probably finish in the 0.7250 area, but there isn't a clear PA to go with.

You should check out other pairs, this one really doesn't scream at you.
  • #59,419
  • Mar 28, 2010 3:31pm Mar 28, 2010 3:31pm
Quoting neutro
You should check out other pairs, this one really doesn't scream at you.
it doesn't???? The weekly is screaming 100 decibels at me....
Many choose unhappiness over uncertainty.
  • #59,420
  • Mar 28, 2010 3:35pm Mar 28, 2010 3:35pm
Quoting Dan Gilbert
it doesn't???? The weekly is screaming 100 decibels at me....
100? that's wierd...I can't even hear anything right now. It blew out my eardrums. This could turn into another gbp/jpy runner like a few weeks ago. Have I ever mentioned how much I love I4Bs?
I dream, therefore I become.
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